Process for Accord Mortgage Product Transfer
Contact our Team.
Have your 10 digit Accord mortgage account number to hand.
We will check your product options with Accord Mortgages and then discuss which would be most suitable for you.
Once you, as the borrower decide on your preferred rate, a simple signature requests the new mortgage rate from Accord Mortgages, which is then put in place as the current rate ends. This means you avoid mortgage interest on the expensive variable rate.
Overpayment allowances
As a concession, Accord allows overpayments each calendar year of up to 10% of your outstanding balance without early repayment charges.
If you intend to make regular or lump sum overpayments, firstly check with the lender that you will be within your overpayments limits.
Accord Rate Switches
Your window to secure a new mortgage rate opens 90 days before expiry of your current rate
Change secured rate
You can still swop a secured rate up to 14 days before start date
Changing your mind
You will have a 14-day cooling off period. 14 calendar days from the date you requested your transfer or the amount of days up to the completion date, whichever happens first.
Mortgage product fees
These can be paid upfront or added. If added, interest will be charged on the fees
Revaluation
If you consider the Accord indexed valuation for your property to be incorrect you can apply for re-valuation
Accord Additional Borrowing
Maximum loan to value 85%
Acceptable purposes
- Home improvements
- Buy Out Co Owner
- Capital Raising (not business)
- Purchase Freehold or extend lease
- Debt Consolidation
Key considerations
- Account minimum 6 months open
- No arrears n the account
- Acceptable loan purchase
- Meets Accord lending criteria